Wynn Resorts Founder and Ousted CEO’s $76M Lake Tahoe Home Hits the Market

Article by : Erik Gibbs Sep 26, 2023

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In 1993, Steve Wynn acquired five acres of land in Incline Village, located on the Nevada side of Lake Tahoe, for $6.5 million. He then constructed a residence on the property, naming it “Old Forge.”

Approximately five years later, Wynn sold the estate for $17 million, as the Wall Street Journal reported.

Noteworthy neighbours along Lakeshore Boulevard include prominent figures like Facebook founder Mark Zuckerberg, former high-yield bond investor Michael Milken, and tech billionaire Larry Ellison.

Old Forge encompasses 12,661 square feet with four bedrooms and a 1,500-square-foot guesthouse with three additional bedrooms.

The estate also features separate rooms for fitness, massage, games and wine, a theatre and a four-car garage.

Outdoors, the mansion boasts a private beach, a deep-water pier, a boat hoist, a jet ski platform and two buoys. After his daughter, Kevyn, was abducted from her Las Vegas condo in 1993, Wynn erected a security wall around the property.

Old Forge is owned by Nora Lacey, founder of biotech firm Cell Marque, and her husband, pathologist Michael Lacey, who acquired the Incline Village residence for $31 million in 2017, setting a regional price record at the time.

The listing is represented by Christine Perry of Christie’s International Real Estate Sereno.

Steve Wynn, known for his pivotal role in developing luxury resorts such as the Mirage, the Bellagio and Wynn and Encore in Las Vegas, transformed the city into a premier luxury destination while amassing significant wealth.

However, in 2018, he faced numerous allegations of sexual misconduct, including sexual harassment, coercion, indecent exposure and an alleged sexual assault case for which he paid a $7.5 million settlement.

These accusations led to his resignation as chair and CEO of Wynn Resorts in 2018. Although he denied the allegations, Wynn parted ways with the company he founded, eventually relocating to Florida with his second wife.

Wynn was never prosecuted for any of the accusations. He continues to defend his position and has repeatedly stated that he is innocent of all accusations.